POSTED BY May 26, 2013 5:48 pm COMMENTS (3)
ONHi
In May 2011 my credit card was settled 14000/- as I was jobless for 2.5 years and the actual was 24000/-. For the 8months I have been working now. Now the settlement status reflects in CIBIL report and when I checked in it. My CIBIL score is 692. I have personnel loan with CITI Finance and still 9 more EMI’s in balance. DPD shows 120 in last November. All the dues were cleared by Jan,13.
I apply for 3 credit cards and 2 in Nov& Jan and 1 in Last week. As usual they were rejected. I came to know after reading your articles it shows credit hungry in CIBIL report.But for increasing my CIBIL score by using credit cards I did it. Last month I got a card on FD and using it.
Recently I met one credit agency and they suggested me to pay remaining balance to HSBC and after they can start processing for removal the word ‘Settled’ from CIBIL Report in 45days period. Is that true? If it is true Can I apply for credit card or loans after that? Please clarify.
Thanks in Advance
Rajasekhar
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Dear Raja, Yes once the settled status is removed, it ‘ll be a positive thing. Regarding the DPD, you may explain to the new lender.
Actually clearing your old dues ‘ll put you in good light from lenders’ point of view.
Thanks
Ashal
Thanx Ashal
As you suggested I will contact HSBC. And want to know if I clear remaining dues on credit card which was settled in 2011, will they remove the word ‘settled’ from CIBIL report? As I came to know the DPD status can’t be removed, then can I apply for credit cards or loans if the ‘settled’ status removed. Please clarfy.
Dear Raja, you can do this on your own without involving any 3rd party. Please contact HSBC bank on your own & do needful.
Thanks
Ashal